Arizona Life Insurance Exam - Life Insurance Basics Questions and answers with solutions

Arizona Life Insurance Exam - Life Insurance
Basics Questions and answers with
correct solutions
Beneficiary ✔✔A person who receives the benefits of an insurance policy
Death Benefit ✔✔The amount paid upon the death of the insured in a life insurance policy
Cash Value ✔✔Equity amount accumulated in permanent life insurance
Estate ✔✔A person's net worth
Illustrations ✔✔Presentation or depiction of non elements of a life insurance policy
Life Insurance ✔✔Coverage on human lives
Liquidation ✔✔Selling assets in order to raise capital (such as using cash value for capital needs)
Lump-Sum ✔✔Payment of the entire benefit in one sum
Minor ✔✔A person under legal age